December 9, 2022

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The CAD is the strongest and the GBP is the weakest as NA traders enter for the day

2 min read

The USD is mixed 

As the North American session gets underway, and the US/UK traders wipe the sleepy eyes after the long weekend, the CAD is the strongest, the GBP is the weakest of the major currencies. The USD is mixed with gains vs the GBP, JPY, and NZD and declines vs the CAD, CHF, and AUD.  

The USD is mixed 

Looking at the ranges and changes, the trading has not really woken up as the major pairs vs the USD have narrow low to high trading ranges of 42 pips or less (the USDCHF is only 21 pips from low to high). The one exception is the GBP pairs.

The ranges and changes for the major currency pairs

In other markets as trading gets underway shows:

  • Spot gold is up $2.28 or 0.12% $1909.30.
  • Spot silver is up $0.27 or 0.96% $28.29
  • WTI crude oil is up $2.30 or 3.45% at $68.62
  • Bitcoin is down $380 or -1.02% $36,326

In the premarket for US stocks, the major indices are opening the delayed week higher:

  • Dow is up 264 point
  • NASDAQ is up 59 points
  • S&P index is up 24 point

In the European equity markets major indices are also trading higher:

  • German DAX, +1.69%
  • France’s CAC, +1.12%
  • UK’s FTSE 100, +1.2%
  • Spain’s Ibex, +0.7%
  • Italy’s FTSE MIB, +1.4%

the US debt market, US yields are higher with the 10 year leading the way at up 3.2 basis point:

US yields are higher

In the European debt market, the benchmark 10 year yields are mixed with Germany, France, UK higher, and Spain, Italy and Portugal lower:

European yields are mixed

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